Spanish Broadcasting System Awarded Official Certification as Minority-Owned Enterprise

One month shy of the 35th Anniversary of the commencement of operations, Spanish Broadcasting System, Inc. (SBS) (OTCQB: SBSAA) has been officially certified as a Minority Business Enterprise (MBE), in compliance with the criteria established by the National Minority Supplier Development Council (NMSDC). The certification was announced by Mr. Terrence Clark, President and CEO of the New York and New Jersey MSDC.

Among the NMSDC’s caveats for certification is a strict adherence to the requirement that candidate suppliers be bona-fide, minority-owned enterprises. Raúl Alarcón, SBS’s Chairman, CEO and sole controlling shareholder, is of Cuban descent. Mr. Alarcón’s father, Pablo Raúl Alarcón, founded SBS with the purchase of WVNJ-AM in New York City in October of 1983.

Since then, SBS has expanded into a multimedia entertainment enterprise with owned and operated heritage radio stations in the largest U.S. markets (including the most-listened-to Hispanic station in the nation, WSKQ-FM in New York City), the Mega TV network, a stable of digital properties including the LaMusica and Hitzmaker mobile apps, as well as the largest independent Hispanic concert and events promoter, SBS Entertainment.

Albert Rodriguez, Chief Operating Officer of SBS, commented, “We are sincerely grateful to the NMSDC for this great honor and for recognizing our efforts during these last three-and-a-half decades.”

“Today, we renew our historical commitment to the national Hispanic community and rededicate ourselves to the important task of serving the millions of Hispanic citizens that make up the fabric of America,” he added.

The MBE certification places SBS on an exclusive list of verified minority-owned firms offering their respective services to corporate, governmental, educational and charitable entities throughout the country.